Housing Archive

Redbook Retail Sales, Richmond Fed, Architectural Index, Mtg Purchase Index, Chemical Activity Barometer, China, Unemployment Duration Chart

No sign of improvement: Bad: Richmond Fed Manufacturing Index Highlights Early indications on the September factory sector are negative and now include a minus 5 headline from the Richmond Fed. New orders, unfortunately, are even more deeply in the negative column at minus 12 which points to even weaker activity in the ...Read More

Existing Home Sales, Household Equity, Credit Check

Reversing as suspected after rush to buy before possible Fed hikes: Existing Home Sales Highlights Though slowing in August, existing home sales are still healthy and trending higher. Existing home sales came in at a lower-than-expected 5.31 million annual rate in August which is the lowest since April. July was revised down ...Read More

Japan Downgrade, China GDP Model, Earnings Reports, Italian Trade, Housing Starts, Rail Traffic, Fed Comment

Yields on JGB’s fall a bit with S&P downgrade. I’ve spoken to S&P. They know better. They are intellectually dishonest. I included these as they give some indication of the macro outlook: FedEx Trims Outlook on Weak Freight Demand Sept 16 (WSJ) — FedEx said it expects adjusted earnings of $10.40 to ...Read More

Mtg Purchase Apps, CPI, Home Builder’s Index, Euro Area Balance of Trade, CEO Outlook

Looking like it’s turned south: MBA Mortgage Applications Fed continues to fail to sustain enough aggregate demand to meet it’s 2% inflation target: Consumer Price Index Highlights Consumer prices came in soft in August and will not be turning up the heat on the doves at the FOMC. Pressured by gasoline, the ...Read More

Mtg Purchase Applications, ADP, Productivity and Unit Labor Costs, Factory Orders

Nice jump in front of what is perceived as a near certain rate hike. However pending home sales didn’t show much of a jump in sales: States : MBA Mortgage Applications Highlights A sharp drop in Treasury rates early in the August 28 week, tied to the global stock market rout, triggered ...Read More

WRKO Interview, GDP, Pending Home Sales, KC Fed, Corporate Profits, BOJ QE chart

WRKO Interview Higher than expected, still a bit lower year over year, and supported by heavy unsold inventory building that’s exceeding the growth of new orders, as well as an increase in net exports which is counter to all the survey information and other hard data as well. Net export reports tend ...Read More

Chemical Activity Barometer, Durable Goods Orders, Mtg Purchase apps, Oil Inventory

Sagging along with industrial production: Better than expected which is nice, but nothing to get excited about. Durable goods tend to chug along at 3 or 4% pretty much regardless of what else happens. But this time they’ve been disrupted to the downside by the oil capex collapse. And note the large ...Read More

Redbook retail sales, Inflation adjustment, China, House prices, Consumer confidence

Still depressed Lower than the Fed thought: U.S. inflation probably lower than reported, Fed study says Aug 24 (Reuters) — U.S. inflation in the first half of the year was probably “markedly lower” than reported according to the San Francisco Federal Reserve Bank. Researchers at the regional Fed bank had earlier found ...Read More

Existing home sales, Philadelphia Fed survey, Nat gas

More existing home are turning over, however look at the downward revisions in the last chart. And while prices may be up, they still haven’t reached replacement value as evidenced by the lack of new construction and most recently the sharp decline in permits after the run up in front of NY’s ...Read More

euro area trade, housing comments, consumer prices

Continues very strong. This is for member using the euro: Size of New Homes in U.S. Shrinks by One Closet By Kris Hudson Aug 18 (WSJ) — Of the 206,000 homes that went under construction in the second quarter, the median size was 2,479 square feet. That was 40 square feet smaller—or ...Read More